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Easy ways to save by reducing waste

Tags Money Management Saving for a Holiday
Category Budgeting Save



Hosting a lunch or a dinner party is a great way to spend time with family and friends while saving on expensive restaurant meals. But as you prepare a feast for your loved ones, it's worth remembering to do your part in reducing food wastage.

Our latest Financial Health Barometer survey revealed that Australians are wasting a whopping $9.6 billion on food each year! That’s over $1000 per household that could be spent in better ways – like spending it on that end of year holiday you’ve always been planning.

Our survey also showed that we still have a long way to go when it comes to food wastage. For instance, a typical Aussie household throws away up to 14 per cent of the food they buy each week - a figure that hasn’t changed since 2016. These habits ultimately hurt our back pocket as well as significantly impact the environment. 

The good news is that we can easily kick these bad habits and start reducing food wastage and start saving hundreds, if not thousands, a year. 

Here are some easy tips to help you waste less and save more:

1. Planning your grocery shop in advance

When planning for get-togethers, confirm guest numbers and designate who brings what. This will reduce doubling up , over catering and the likelihood of increased food wastage. 

2. Buying only what you need

Before you head to the shops, make sure to always check your fridge and pantry to see if you already have items that are on your shopping list. Or, set yourself a challenge and try to use those buried bags of frozen peas and cans of coconut milk to inspire your meal creations.

3. Pack those leftovers for lunch

Have takeaway containers handy to pack left overs from your feast and send home extra food with guests; or store it in the freezer for later in the week. 

4. Re-use left-over ingredients

Another great way to save food from going to waste is to plan out one meal a week using leftover ingredients you have lying around from previous meals.

5. Create a space for soon-to-expire items

Designate a space in your fridge for foods about to expire. That way you have a visual reminder every time you open the fridge.

6. Don’t bulk buy

Bulk buying from wholesalers is a great way to save money – but only if you have plenty of freezer and pantry space, or lots of mouths to feed. 

Lastly, if you have food you know you won’t use, donate it to a worthy cause instead of throwing it away. A few food relief charities in Australia include Foodbank, SecondBite and OzHarvest.

 

Articles you might also be interested in

1. Facts and Figures on Aussies and Super
2. Financial Health Barometer Food & Farming Report